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>> ben bernanke address that in his report. none of these numeric thresholds are an absolute trigger. he said if we get below 6.5% but inflation is still low, they may think raising rates could still be inappropriate for he was very clear the fed still have a lot of wiggle room but at least you don't have to worry about raising interest rates until we get those markers. liz: what was your second biggest surprise? >> the shift in the threshold was a little bit of a surprise. is that what you're referring to? it is a little bit of inside baseball, if you will. they did kind of shorts and a maturity of the treacheries they are buying. only marginally, but it spooked the long end of the market. liz: it did. >> they have been buying a lot of support out for 30-year maturities, just about the only buyers of that sector anymore and the fact the fed will be buying only a small amount less. to some extent unsettled the market, so that's a very long end of the market we saw a little upward pressure on yields. it is mostly 30s. for most o
>> ben bernanke address that in his report. none of these numeric thresholds are an absolute trigger. he said if we get below 6.5% but inflation is still low, they may think raising rates could still be inappropriate for he was very clear the fed still have a lot of wiggle room but at least you don't have to worry about raising interest rates until we get those markers. liz: what was your second biggest surprise? >> the shift in the threshold was a little bit of a surprise. is that...
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what would you like to ask the ben bernanke? melissa: with the tenure and the 30 year as we head to break. you can see the yield rising on a ten year by 3 basis points. we will be right back. to work h. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >> i am adam shapiro. stocks are getting a boost after the federal reserve announced plans to ramp up stimulus to the u.s. economy. the dow was up 70 points. avon is cutting 1500 jobs from its global work force. the company will also leave south corey and vietnam. the moves are part of a turnaround plan as it is working to eliminate hundreds of millions of dollars in costs over the next few years. honda is going to recall 800,000 minivans and suvs nationwide because th
what would you like to ask the ben bernanke? melissa: with the tenure and the 30 year as we head to break. you can see the yield rising on a ten year by 3 basis points. we will be right back. to work h. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial...
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if we look at -- you know ben bernanke. this is it. the last scheduled meeting unless there is an emergency. what do you say? >> there are a couple things to watch here. this is all about getting housing going again. this is why they are buying mortgage bonds. they talked about it in several statements. the economy -- you are starting to see a cat that housing recovery. we are going into the slow season, winter is usually the slow season for housing. if they do more than expected will be in mortgage bonds. dennis: which would you rather have the fed buy more of? mortgage-backed securities for u.s. treasurys? >> for much there same reason constance said, mortgage-backed securities. treasury rates are low and housing is where you get the multiplier effect in this economy. if you get more housing sales whether it is new or existing homes you will see more transportation of raw materials. >> the fed watches a new round of bond buying. a new bond buying program, a new round of quantitative easing as expected. $45 billion a month in treasury
if we look at -- you know ben bernanke. this is it. the last scheduled meeting unless there is an emergency. what do you say? >> there are a couple things to watch here. this is all about getting housing going again. this is why they are buying mortgage bonds. they talked about it in several statements. the economy -- you are starting to see a cat that housing recovery. we are going into the slow season, winter is usually the slow season for housing. if they do more than expected will be...
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. >> someone in dc is focussed on job, fed chairman ben bernanke pledging more easy money to cut the unemployment rate. what does the economy look like in the new year, wells fargo chief economist, john silvio next. lou: chairman ben bernanke made a historic move sitting unemployment rate as a target for monetary policy. we'll be taking that up, talking with wells fargo chief economist john silv sylvia in moments, and announcing they will spend -- a month buying mortgage-backed security. what the market expected and stocks rallied a bit on the announcement, a little. then ben bernanke talked about the fiscal cliff that ended that rally, stocks coming off their highs, index, swung 102 points over second, and s&p finished where it began, nascar -- nazdaq down over 8 points, and trading on big board, busiest in the week, walmart a big mover, dropping retailer part of an overall weak group, best answer, profit taking with the sell-off walmart up, 18 -- almost 19ers in on the year, 10 year, yield rising to 1.69%, and crude market, up, joining me now, wells fargo chief economist, john silv
. >> someone in dc is focussed on job, fed chairman ben bernanke pledging more easy money to cut the unemployment rate. what does the economy look like in the new year, wells fargo chief economist, john silvio next. lou: chairman ben bernanke made a historic move sitting unemployment rate as a target for monetary policy. we'll be taking that up, talking with wells fargo chief economist john silv sylvia in moments, and announcing they will spend -- a month buying mortgage-backed security....
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and ben bernanke said household confidence is starting to wane. businesses aren't spending money because of the fiscal cliff. so it's so elusive. it's almost right there. next year could be a good year if we can get some of these uncertainties settled. >> thank you so much, christine. appreciate it. >>> 26 minutes past the hour. >>> without it, a lot of iphone users were lost without it. literally. the app that just made a big comeback. switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. he opened up jake's very private world. at first, jake's family thought they saved ziggy, but his connection with jake has been a lifesaver. f
and ben bernanke said household confidence is starting to wane. businesses aren't spending money because of the fiscal cliff. so it's so elusive. it's almost right there. next year could be a good year if we can get some of these uncertainties settled. >> thank you so much, christine. appreciate it. >>> 26 minutes past the hour. >>> without it, a lot of iphone users were lost without it. literally. the app that just made a big comeback. switchgrass in argentina, change...
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ben bernanke, wow, i think he spooked the markets today. he said something that erased the entire rally. but did people really hear him right? that's up next. we're going to try to figure out bernanke. i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> welcome back to "the kudlow report." in this half hour, look at these violent scenes from michigan. the right to work battle was far from peaceful
ben bernanke, wow, i think he spooked the markets today. he said something that erased the entire rally. but did people really hear him right? that's up next. we're going to try to figure out bernanke. i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking...
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but it certainly could give a shock to the economy. >> ben bernanke saying he's out of their suitcase and he's got nothing left, right? is that he's basically saying? >> he said this could be going on for years and years to come. what you have is a maximum amount of stimulus. and that is being financed by enormous amount of financing. tracy: that's something we have to talk more about. it could be very ugly enough the end of the day, it could be very interesting. all right, do you think we are headed off the fiscal cliff? let us know. give us an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", tax dollars have bailed out these workers. we have the shocking findings of a new report coming up next. also, for those fed up with apple's disaster mapping system, google maps is back in business for your iphone. details coming up later. also, they say no news is good news. but this you will definitely want to hear. new evidence of obamacare doing more harm than good to your bottom-line. we will have the latest and we are on the case next in "the willis report." speed. tr
but it certainly could give a shock to the economy. >> ben bernanke saying he's out of their suitcase and he's got nothing left, right? is that he's basically saying? >> he said this could be going on for years and years to come. what you have is a maximum amount of stimulus. and that is being financed by enormous amount of financing. tracy: that's something we have to talk more about. it could be very ugly enough the end of the day, it could be very interesting. all right, do you...
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thank you, susan. >>> ben bernanke also had big news for investors. the feds taking unprecedented action in keeping interest rates at their record-low levels. erica ferrari is here in new york with that. erica, good morning to you. >> good morning, terrell. for the first time ever, the fed said they would link its actions to specific economic milestones. they said they'll keep the interest rate to 0% until the unemployment rate falls to below 6.5%. the jobless rate may not reach that point until 2015. it's at 7.7% now. rates will also stay low as long as inflation remains below 2.5%. the fed will continue its program of spending $85 billion a month on bond purchases. all of these steps are aimed at spurring borrowing and lending. and news from the federallied most asian markets. tokyo's nikkei added 1.5%. hong kong's hang seng lost a quarter percent. the dow lost nearly 3 points. the nasdaq was down 8. and the u.s. is on track to run up its fifth straight deficit or manufacture than a trillion dollars. the treasury department says the budget gap rose
thank you, susan. >>> ben bernanke also had big news for investors. the feds taking unprecedented action in keeping interest rates at their record-low levels. erica ferrari is here in new york with that. erica, good morning to you. >> good morning, terrell. for the first time ever, the fed said they would link its actions to specific economic milestones. they said they'll keep the interest rate to 0% until the unemployment rate falls to below 6.5%. the jobless rate may not reach...
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boy, i would think the fed and ben bernanke are rooting hard for that one. we saw how the market is moving on every single development out of washington, with stocks quickly coming off of their session lows today, just on the report that the two main players would finally get in the same room, look at each other eye to eye and talk this out. even with the fed's latest contortions yesterday, it freely admits it does not have the tools that will combat the affects of a fiscal cliff debacle. ben bernanke and his fed cohorts have done the job that congress should have been doing all along. if he had his way, it would not have been the fed doing so much to help this economy. it would have been our elected officials. the job that they're paid to do. he stepped in because he had to, not because he wanted to. now, the message is clear. the fed cannot fix washington's ineptitude this time, if they can't come to a compromise and make a deal. so, you sure can be sure
boy, i would think the fed and ben bernanke are rooting hard for that one. we saw how the market is moving on every single development out of washington, with stocks quickly coming off of their session lows today, just on the report that the two main players would finally get in the same room, look at each other eye to eye and talk this out. even with the fed's latest contortions yesterday, it freely admits it does not have the tools that will combat the affects of a fiscal cliff debacle. ben...
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today is the day after ben bernanke unveiled big new money printing program. it is also his 59th birthday, no impact on the market obviously. yum! brands up slightly today. this is the company behind taco bell and kfc. goldman sachs upgrading the stock, says its recent problems in china, only temporary. at this price $68 a share. 68 they say heading higher. goldman is downgrading darden restaurants. t it says -- it says the turnaround at olive guaarden is slow. it is down. boston beer makes sam adams beer, it expects to make more money next year, simple reason it is selling more beer. the stock hit all-time high today. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. stuart: the federal reserve is going to start tying interest rates to
today is the day after ben bernanke unveiled big new money printing program. it is also his 59th birthday, no impact on the market obviously. yum! brands up slightly today. this is the company behind taco bell and kfc. goldman sachs upgrading the stock, says its recent problems in china, only temporary. at this price $68 a share. 68 they say heading higher. goldman is downgrading darden restaurants. t it says -- it says the turnaround at olive guaarden is slow. it is down. boston beer makes sam...
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i think that's a mistake. >> steve, ben bernanke said today if we do go over the fiscal cliff, even if it's for a short period of time, it's going to be very costly and they do not have the tools to basically dig us out of it. do you believe if we go over the fiscal cliff it won't be as easy as the governor is suggesting? >> we're in trouble anyway this quarter and the next quarter and putting on taxes of any kind would be the wrong thing to do. sometimes the governor is a former physician, current physician, and you learn first go don't harm the patient. putting on taxes would harm the patient. we've seen that around the world. >> what do we do with the deficit problem we have? >> the only way to get rid of a deficit ultimately, spending restraint. you've got to do entitlement reform. that will take months, not a few weeks, but it's grow the economy. if we had revenues equal to what we normally do, 18%, 19% of gdp, that cuts the deficit in half. there's no way you can tax and cut spend out of this contraction. the last time we tried that was the early 1930s. did not work. >> let me di
i think that's a mistake. >> steve, ben bernanke said today if we do go over the fiscal cliff, even if it's for a short period of time, it's going to be very costly and they do not have the tools to basically dig us out of it. do you believe if we go over the fiscal cliff it won't be as easy as the governor is suggesting? >> we're in trouble anyway this quarter and the next quarter and putting on taxes of any kind would be the wrong thing to do. sometimes the governor is a former...
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fed chairman ben bernanke has announced rates will remain ultralow until the jobless rate drops below 6.5%. something that he says might not happen for at least three more years. >>> and the owners of more than 800,000 honda vehicles are going to be getting recall notices soon because their vans or suvs could roll away, even with the key removed. the recall covers the honda odyssey and pilot and the acura mdx, with various model years, from 2003 to 2006. now, the ignition defect could let drivers pull the key out with the vehicles still in gear. and off it rolls. >> scary thought. >>> if blaring commercials drive you crazy while you're watching tv, get ready for some relief starting today. a new volume control law aimed at ear-splitting ads, takes effect today. the c.a.l.m. act, c.a.l.m. standing for commercial advertisement loudness mitigation, requires ads to be within two decibels of the program. >> what does c.a.l.m. stand for again? >> i don't remember. >> can you keep it down? >>> and it's a red-letter day for iphone users who can't stand the apple map app, say that three times
fed chairman ben bernanke has announced rates will remain ultralow until the jobless rate drops below 6.5%. something that he says might not happen for at least three more years. >>> and the owners of more than 800,000 honda vehicles are going to be getting recall notices soon because their vans or suvs could roll away, even with the key removed. the recall covers the honda odyssey and pilot and the acura mdx, with various model years, from 2003 to 2006. now, the ignition defect could...
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federal reserve chairman ben bernanke said failure to strike a deal would cause huge damage to the economy. >> if the economy actually went off the fiscal cliff, our assessment, the cbo's assessment, outside forecasters all think that would have very adverse effects on the economy and on the unemployment rate. we cannot offset the full impact of the fiscal cliff. it's just too big. >> there was another figurehead on capitol hill today, urging a solution to the standoff. >> to parents everywhere, call your representatives today, tomorrow, and every day until they pass the tax cut that is so important to you all. >> i guess we're pulling out all stops. senate republican leader mitch mcconnell was not really in the holiday mood today. he claims the president is not giving republicans anything to work with. >> the president and his allies have taken so many things off the table, the only thing left is the varnish. >> well, that's good news. house speaker john boehner says the white house offer is dead in the water. >> the president is calling for $1.4 trillion worth of revenue. that cannot pas
federal reserve chairman ben bernanke said failure to strike a deal would cause huge damage to the economy. >> if the economy actually went off the fiscal cliff, our assessment, the cbo's assessment, outside forecasters all think that would have very adverse effects on the economy and on the unemployment rate. we cannot offset the full impact of the fiscal cliff. it's just too big. >> there was another figurehead on capitol hill today, urging a solution to the standoff. >> to...
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it's ben bernanke's birthday. happy birthday, ben. "squawk box" begins right now. >>> good morning and welcome back to south carolina here on cnbc. i'm andrew ross sorkin along with joe kernen. becky is off today. dino kosof, he's going to have a lot to talk about when it comes to what mr. bernanke just said. later in the program, we'll talk to pimco's kneneal ashkari. >>> a surprise from ben bernanke, linking unemployment to monetary policy. rates will be staying where they are right now, which is close to zero, of course. until at the very least the jobless rate falls to 6.5%. we can only cross our fingers wherefore when that might be. ben bernanke says these changes will make the central bank more transparent adding they can only help the markets. the central bank ramped up its asset purchase program adding $40 billion to its $40 billion a month purchases of mortgage-backed bonds. he spoke about the objectives during wednesday's news conference. >> the asset purchases and the rate increases have different objectives. the asset purc
it's ben bernanke's birthday. happy birthday, ben. "squawk box" begins right now. >>> good morning and welcome back to south carolina here on cnbc. i'm andrew ross sorkin along with joe kernen. becky is off today. dino kosof, he's going to have a lot to talk about when it comes to what mr. bernanke just said. later in the program, we'll talk to pimco's kneneal ashkari. >>> a surprise from ben bernanke, linking unemployment to monetary policy. rates will be staying...
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you know, it was ben bernanke who first coined the term. and he was talking about the economy going over the cliff if we did not act appropriately. so we absolutely have to do the right thing here. now, having said that, to juxtapose medicare and social security, which are programs in which people pay into all their lives, as being the area that we are going to cut, is not where i believe the cut should be should be takes place. >> representative, from that note, according to politico, the article we were talking about earlier, john boehner is able to move on with revenue for the cuts if john boehner says okay to a deal, will you extend the tax hikes for the rich to raise the issues on medicare? >> that's one area that doesn't make any sense. why should we do something that's stupid? raising the retirement age from 65 to 67, actually, only nets $2 billion. and the other costs associated with it is, maybe it's closer to $5 billion. but the other costs associated with it, in emergency room its terms of having to subsidize medicare in the stat
you know, it was ben bernanke who first coined the term. and he was talking about the economy going over the cliff if we did not act appropriately. so we absolutely have to do the right thing here. now, having said that, to juxtapose medicare and social security, which are programs in which people pay into all their lives, as being the area that we are going to cut, is not where i believe the cut should be should be takes place. >> representative, from that note, according to politico,...
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ben bernanke just throwing a trillion dollars at this and all of a sudden today everything is coming up roses. 2 t is frustrating. didn't want it believe it. and we saw the fiscal cliff hanging over. >> do you agree with that, michael? >> bernanke doesn't come out and display one side. he is trying to talk the market into being optimistic but not too optimistic. the take away that i really thought was critical yesterday, this whole target rate gives investors a map for how to invest over the next couple of years. i have a blog on cnbc right now that talks exactly about that issue. he essentially said you stay in bonds for a year, year and a half until unemployment starts to come down into the 6s. that point, you sell, put risk on. make sure you're international -- >> my question for you, michael, is a lot of our viewers have a lot of portfolios in fixed income assets. mutual funds or whatever. what should they be doing if anything now and what is the signal for them to act and do something? >> great question. all of this is theoretical until you operational it for investors. if you a
ben bernanke just throwing a trillion dollars at this and all of a sudden today everything is coming up roses. 2 t is frustrating. didn't want it believe it. and we saw the fiscal cliff hanging over. >> do you agree with that, michael? >> bernanke doesn't come out and display one side. he is trying to talk the market into being optimistic but not too optimistic. the take away that i really thought was critical yesterday, this whole target rate gives investors a map for how to invest...
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. >> and you can thank big ben bernanke, the fed chief. a lot of people saying that the federal reserve and its herculean efforts to keep the economy moving is why stocks are up, why the economy is growing, and they're expecting the fed to announce new measures, new st stimulus to keep it going. so when you hear the catch phrase that the fed is the only game in town, the fed is the only game in town. around the world it has been central banks who are independent from governments, central banks who have been doing so much, pumping money into the system to keep things going. s&p 500 up 13% so far this year. all of these uncertainties we talked about, the fiscal cliff, all of that stuff, it is because of the certainty of fed policy many people are telling me, also because they think on wall street the fiscal cliff will be avoided. they think on wall street the only thing left to do is a little bit of shouting over what the top rate will be. 36%, 37%. they think corporate taxes will come down and we know that that is in the latest sort of prop
. >> and you can thank big ben bernanke, the fed chief. a lot of people saying that the federal reserve and its herculean efforts to keep the economy moving is why stocks are up, why the economy is growing, and they're expecting the fed to announce new measures, new st stimulus to keep it going. so when you hear the catch phrase that the fed is the only game in town, the fed is the only game in town. around the world it has been central banks who are independent from governments, central...
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ben bernanke says the fed doesn't have enough tools to offset the fiscal cliff. the fed will keep interest rates near zero until the jobless rate falls to 6.5% or inflation rate to 2.5%. and growth next year 2.3% to 3% and jobless rate likely to say in the 7.4 to 7.7% range. unemployment checks will end by the end of the year if congress fails to fix the fiscal cliff. it's unclear the fate of the benefits in the fiscal cliff fight, something that terrifies people like alisia worthen. you've been looking for a job for more than six months. are you more optimistic or less optimistic? >> i believe it's going to turn around. it will probably take a little time but i believe it will. >> you need the government to help now until that happens? >> yes, i definitely do. i have a household to run, still have rent and bills to pay and i need help. i need help. >> millions of people like alecia. she still needs an unemployment check, unclear of the fate of jobless benefits and extension of those in the faiscal cliff fight. conservatives say it's time to end it. >> she has a
ben bernanke says the fed doesn't have enough tools to offset the fiscal cliff. the fed will keep interest rates near zero until the jobless rate falls to 6.5% or inflation rate to 2.5%. and growth next year 2.3% to 3% and jobless rate likely to say in the 7.4 to 7.7% range. unemployment checks will end by the end of the year if congress fails to fix the fiscal cliff. it's unclear the fate of the benefits in the fiscal cliff fight, something that terrifies people like alisia worthen. you've...
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ben bernanke celebrating his 59th birthday today. we want to know, what do you think bernanke will be wishing for when he blows out his birthday candles which, of course, is what you do if you're on the board of the fomc? tweet us, @squawkstreet. we'll read some of your answers next. sors. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. [ male announcer ] break from the holiday stress. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you
ben bernanke celebrating his 59th birthday today. we want to know, what do you think bernanke will be wishing for when he blows out his birthday candles which, of course, is what you do if you're on the board of the fomc? tweet us, @squawkstreet. we'll read some of your answers next. sors. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick...
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it seems like ben bernanke has specific numbers if mind. >> he does. he says he and his colleagues are not going to stop until they see the numbers become a reality. they will keep interest rates close to zero. that's until the unemployment rate falls to 6.5%. federal reserve officials gathered to discuss measures to support the committee in a two-day meeting that ended wednesday. they say it continues to expand at a moderate pace approximate while unemployment was down slightly second-degr the aim of this program is to drive down interest rates. for its next step the fed will start buying the same amount of treasury bonds in january. that's on top of the 40 billion each month it's buying in morning bonds. analysts say it's an unprecedented move for the fed to spell out its goal to bolster the economy. after the policy board meeting the fed chairman expressed strong concern about the fiscal cliff. he urged the obama administration and congress to resolve the problem as soon as possible. >> clearly this is a major risk factor and a major source of uncer
it seems like ben bernanke has specific numbers if mind. >> he does. he says he and his colleagues are not going to stop until they see the numbers become a reality. they will keep interest rates close to zero. that's until the unemployment rate falls to 6.5%. federal reserve officials gathered to discuss measures to support the committee in a two-day meeting that ended wednesday. they say it continues to expand at a moderate pace approximate while unemployment was down slightly...
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bernanke in there. on friday.t news >> unemployment report was better than expected but needs to be better than that. >> buzz in washington about whether susan rice or john kerry will be the next secretary of state and i'm told the president hasn't made up his mind yet and may not make up his mind until january. he wants to get the fiscal cliff business done with so don't be in a rush to await that decision. chris: when we return, the the week, will barack obama's scores in the second term be on foreign policy or here at home? chris: welcome back. syria, egypt and afghanistan are just the foreign policy challenges we already know about russia out china and there which brings us to the big question this week -- will the president's second term triumphs be abroad or here at home? >> i think his second term will be defined by foreign policy and looming confrontation over iran. chris: politco has spoken. >> despite all of the domestic issues, he will have a bigger role to play on the world stage and brought
bernanke in there. on friday.t news >> unemployment report was better than expected but needs to be better than that. >> buzz in washington about whether susan rice or john kerry will be the next secretary of state and i'm told the president hasn't made up his mind yet and may not make up his mind until january. he wants to get the fiscal cliff business done with so don't be in a rush to await that decision. chris: when we return, the the week, will barack obama's scores in the...
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bernanke and timothy geithner, the combination of the team that had saved the world from utter financial collapse. and that's what they knew they needed. and john mccain, on the other hand, was running around like a headless chicken, and they were scared, they were petrified he would become president, especially with his vice presidential candidate. so they voted in their self-interest, because they knew that the system needed to be saved. now that the system is saved is, they just want to pay less taxes. >> that gets to this question of narrow self-interest versus broad self-interest. in the case of adelson, this is really important for people to understand. when you're talking these marginal races, this is tens of millions, hundreds of millions of dollars for people. there's a ton of money on the table. >> if you're earning $400,000 a year, you're still paying less than top marginal rates. it's only the last bit. if you're sheldon adelson, you're paying the marginal rates on basically everything. >> basically everything. but there's also the sense in which the self-interest is very nar
bernanke and timothy geithner, the combination of the team that had saved the world from utter financial collapse. and that's what they knew they needed. and john mccain, on the other hand, was running around like a headless chicken, and they were scared, they were petrified he would become president, especially with his vice presidential candidate. so they voted in their self-interest, because they knew that the system needed to be saved. now that the system is saved is, they just want to pay...
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a two-day meeting, starts today at the end of it we'll hear from chairman ben bernanke and talk about qe4. that's right a fourth round of quantitative easing in which the central bank buys up billions of dollars worth of treasuries. fiscal negotiations are also weighing on the markets. friends at cnbc did a survey and they put the chance of another recession at 2013 in about one in three partly because of the fiscal cliff. >>> well, everyone plays the blame game in washington. up next, a deep dive with a pair of process pros who are getting a lot of buzz for their finger pointing. i thought i'd start the video by showing you the apartment building where the fire was. when things like this happen, i think you find a new perspective on life. red cross put us in a hotel so we were able to stay together. we're strong and if we overcame that or if we can overcome that... we can overcome anything. [ sniffles ] ♪ [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush is simply revolutionary. oral-b power brushes oscillate, rotate and even pulsate to
a two-day meeting, starts today at the end of it we'll hear from chairman ben bernanke and talk about qe4. that's right a fourth round of quantitative easing in which the central bank buys up billions of dollars worth of treasuries. fiscal negotiations are also weighing on the markets. friends at cnbc did a survey and they put the chance of another recession at 2013 in about one in three partly because of the fiscal cliff. >>> well, everyone plays the blame game in washington. up next,...
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meanwhile, fed chairman ben bernanke, the man who coined the term fiscal cliff, urgently warned that just approaching the edge is causing damage. >> why is it that consumer confidence dropped so sharply this week? why is it that small business confidence dropped so sharply? why are the markets volatile, even though we're not yet even reached the point of the fiscal cliff potentially kicking in? it's already affecting business investment and hiring decisions by creating uncertainty or creating pessimism. >> a new nbc news wall street journal poll finds that nearly half the country does not think a deal will be reached. by a 2-1 margin, voters trust the president to handle the negotiations over speaker boehner. the last speaker of the house nancy pelosi had some stern advice for mr. boehner. >> you can bring a bill to the floor that the republicans don't have to vote for except for 25 of them. i had to do it as speaker. do you know what it was like to bring a bill to floor to fund the war in iraq. it's tough, but you have to do it, so is the point that you don't want to put your member
meanwhile, fed chairman ben bernanke, the man who coined the term fiscal cliff, urgently warned that just approaching the edge is causing damage. >> why is it that consumer confidence dropped so sharply this week? why is it that small business confidence dropped so sharply? why are the markets volatile, even though we're not yet even reached the point of the fiscal cliff potentially kicking in? it's already affecting business investment and hiring decisions by creating uncertainty or...
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what ben bernanke let you know, this economy is not in a recovery situation. he is saying they are going to continue to do this until we gete unemployment less than 6.5%. >> greta: $45 billion a month. >> a month. what that will do for the inflationary process with gas and food and that will reflect the middle-income families. >> greta: we will see who cares and who goes on vacation. >> i will be right here. >> greta: i know. i can trust you. congressman, thankuf. >> always a pleasure. >> greta: coming up, lawmakers object to something they just discovered in obamacare, but there is a twist. they are the very one who is voted for obamacare. wait until have you this one, it will have your head absolutely spinning. spinning. we have a representative here to americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centu
what ben bernanke let you know, this economy is not in a recovery situation. he is saying they are going to continue to do this until we gete unemployment less than 6.5%. >> greta: $45 billion a month. >> a month. what that will do for the inflationary process with gas and food and that will reflect the middle-income families. >> greta: we will see who cares and who goes on vacation. >> i will be right here. >> greta: i know. i can trust you. congressman, thankuf....
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ben bernanke arrives for day one of the fed meeting. there he is. we promise you, he's in that suv there. where currentcy traders are placing their bets as speculation of further easing gr grows. >>> we're halfway through the trading day. next we cover the day's dead cat bounces. the island reverse ams. the break outs and breakdowns. in "pops & drops." >>> plus, they say the dumb money trades in the morning and the smart money trades into the close. so we reveal what that smart money is buying and trading before that final bell tolls. when the "halftime report" continues. [ male announcer ] trading's like a high-speed train. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track. thinkorswim by td ameritrade. trade commission free for 60 days, plus get up to $600 when you open an account. [ male announcer ] when it comes to the financia
ben bernanke arrives for day one of the fed meeting. there he is. we promise you, he's in that suv there. where currentcy traders are placing their bets as speculation of further easing gr grows. >>> we're halfway through the trading day. next we cover the day's dead cat bounces. the island reverse ams. the break outs and breakdowns. in "pops & drops." >>> plus, they say the dumb money trades in the morning and the smart money trades into the close. so we reveal...
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looking at the domestic front, "ben bernanke is to make a last fiscal cliff police." "topping a yearlong campaign, he would get one last chance to talk washington down from the fiscal cliff. host: c-span will be carrying that press conference live, fed chairman ben bernanke, on c-span 3. you can find that at 2:15 p.m. eastern time. you can find it on their website, we will be archiving that after the fact. what deductions would you give up? let's go to dawn in eugene, oregon. caller code good morning. listen, the contribution thing is a way to be of service, as far as i'm concerned. host: by contribution you mean charitable contribution? caller: yes. it is something that i would want to keep. i mean, not keep, but i would be willing to contribute to that concern about taxes. my main concern is the mortgage deduction. how severe -- many of us have every dollar that we account for on the federal. if we did not have that, we would be up to 25%. this would be quite a severe blow if this were done in a cut and dried fashion. maybe they can do a tiered thing? that is the th
looking at the domestic front, "ben bernanke is to make a last fiscal cliff police." "topping a yearlong campaign, he would get one last chance to talk washington down from the fiscal cliff. host: c-span will be carrying that press conference live, fed chairman ben bernanke, on c-span 3. you can find that at 2:15 p.m. eastern time. you can find it on their website, we will be archiving that after the fact. what deductions would you give up? let's go to dawn in eugene, oregon....
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what ben bernanke let you know, this economy is not in a recovery situation. he is saying they are going to continue to do this until we gete unemployment less than 6.5%. >> greta: $45 billion a month. >> a month. what that will do for the inflationary process with gas and food and that will reflect the middle-income families. >> greta: we will see who cares and who goes on vacation. >> i will be right here. >> greta: i know. i can trust you. congressman, thankuf. >> always a pleasure. >> greta: coming up, lawmakers object to something they just discovered in obamacare, but there is a twist. they are the very one who is voted for obamacare. wait until have you this one, it will have your head absolutely spinning. we have a representative here to tell you all about it. meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 comb
what ben bernanke let you know, this economy is not in a recovery situation. he is saying they are going to continue to do this until we gete unemployment less than 6.5%. >> greta: $45 billion a month. >> a month. what that will do for the inflationary process with gas and food and that will reflect the middle-income families. >> greta: we will see who cares and who goes on vacation. >> i will be right here. >> greta: i know. i can trust you. congressman, thankuf....
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we know ben bernanke has been. warning us for months. the fed is doing everything it possibly can to pointing the finger at washington that it has to do more. do you think the economy has already suffered for lack of a deal to avoid the fiscal cliff? >> i think so. if we look at business investments declining in the third quarter, some as business nervousness. businesses are holding back on investment, near-term. lori: do agree the fittest and all they all they can in expecting an announcement of wanted it using three this week? the fed cannot solve this problem. >> they need to avoid most of the spending cuts and tax increases with economy likely to go under recession. the fed can help out somewhat but if we see those spending cuts and tax increases, we're likely to see it go back and ino recession. lori: purchasing the short-term, we invest in the long-term help in the mortgage market. we have seen a real those haitian, is it fair to say it has helped those housing in the economy? >> absolutely. housing prices are start to increase. bu
we know ben bernanke has been. warning us for months. the fed is doing everything it possibly can to pointing the finger at washington that it has to do more. do you think the economy has already suffered for lack of a deal to avoid the fiscal cliff? >> i think so. if we look at business investments declining in the third quarter, some as business nervousness. businesses are holding back on investment, near-term. lori: do agree the fittest and all they all they can in expecting an...
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ategyhairman ben bernanke said the employment target is a better signal to investors and the public of just how long interest rates will stay low. >> a strategy that we believe ill help support household and business confidence and spending. >> reporter: to control interest rates, the fed plans to buy $85 eellion worth of bonds every ownth, $45 billion in treasury bills, $40 billion worth of hinggage bonds. the mortgage buying program has already driven rates to historic lows and driven up mortgage applications by 10%. but bernanke says the economy afeds more confidence now because of the uncertain fiscal cliff negotiations in unshington. and the harm from the fiscal cliff won't just happen in the enedre. bernanke said that's happening now. >> it's already affecting absiness investment and hiring decisions by creating uncertainty, or creating r:ssimism. ai saw what happened recently to consumer sentiment, which fell, tesumably in part because of concerns about the fiscal cliff. t reporter: the other main concern for the fed is inflation. but, scott, there's good news here. despite the
ategyhairman ben bernanke said the employment target is a better signal to investors and the public of just how long interest rates will stay low. >> a strategy that we believe ill help support household and business confidence and spending. >> reporter: to control interest rates, the fed plans to buy $85 eellion worth of bonds every ownth, $45 billion in treasury bills, $40 billion worth of hinggage bonds. the mortgage buying program has already driven rates to historic lows and...
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federal reserve chairman ben bernanke as he kicks off a two day fed meeting and
federal reserve chairman ben bernanke as he kicks off a two day fed meeting and
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. >> ben bernanke. >> ben bernanke is taking matters into his own hands to try to right the economy. so it's only boehner and his right wing republican conference which i don't understand the tactic at all. >> okay. mike, the white house said today the republicans haven't budged on the key issue, which is raising rates for the top 2%. >> right. >> so boehner may say ifs and buts are candy and nuts but where do they find themselves if we go over the cliff knowing that the president argued in the election over this central issue? >> reporter: two things. first of all, you know, i think regardless of what the polls say, this is a question of who looks the worst, not who looks the best. i think both sides in the end if we go over the cliff, if there is this economic catastrophe and i agree with bill, if we go over the cliff, they can come back and pass something retroactively. nothing is certainty point. i don't think anybody really wins in this scenario at all. so i think with regard to -- the one thing you have to keep in mind, you know, the average member of congress is not thinking s
. >> ben bernanke. >> ben bernanke is taking matters into his own hands to try to right the economy. so it's only boehner and his right wing republican conference which i don't understand the tactic at all. >> okay. mike, the white house said today the republicans haven't budged on the key issue, which is raising rates for the top 2%. >> right. >> so boehner may say ifs and buts are candy and nuts but where do they find themselves if we go over the cliff knowing...
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. >> meanwhile, fed chairman ben bernanke says the threat of the "fiscal cliff" is creating uncertainty in the economy. >> going home, guys. see you later. >> no comment from new jersey governor chris christie. but he did open up to barbara walters about his weight. he admitted that he is more than a little overweight but he says he has done thinks job well. christie says his size isn't something that would keep him from a run for the white house. it is rumored he is considering a presidential bid in 2016. if he does run, he might go up against secretary of state hillary clinton. also speaking to barbara walters, clinton says she does not plan to run but she did admit she is open to the opportunity. newt gingrich says republicans will have a tough time beating clinton if she did run in 2016. >>> 4:49 now. an impressive run for wall street is now over. the dow snapped its longest winning streak in nine months. an early stock market rally faded away after investors took a closer look at the federal reserve's latest plans to stimulate the economy. the fed promises to buy bonds and keep int
. >> meanwhile, fed chairman ben bernanke says the threat of the "fiscal cliff" is creating uncertainty in the economy. >> going home, guys. see you later. >> no comment from new jersey governor chris christie. but he did open up to barbara walters about his weight. he admitted that he is more than a little overweight but he says he has done thinks job well. christie says his size isn't something that would keep him from a run for the white house. it is rumored he is...
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fed chair ben bernanke has said if a budget deal can't be reached, there's little the central bank can do to offset the shock of those spending increases and tax cuts. >>> a strong sales report from mcdonald's offset wall street's worries about the fiscal cliff negotiations. the dow added 15 points while the nasdaq gained 9 points. >>> hsbc is paying a record $1.9 billion to settle a federal and state money laundering probe. the british bank was under investigation for allegedly transferring billions of dollars on behalf of iran which is under international sanctions. hsbc is also alleged to have laundered money from mexican drug cartels. under the terms of the settlement, the bank will avoid criminal prosecution if it meets certain requirements. >>> one of the more popular parts of president obama's health care law is a provision that stops insurance companies from turning down patients with pre-existing conditions, but it's going to cost the estimated 190 million americans who are already on health plans about $63 per person. the plan is to raise $25 billion over three years. most of
fed chair ben bernanke has said if a budget deal can't be reached, there's little the central bank can do to offset the shock of those spending increases and tax cuts. >>> a strong sales report from mcdonald's offset wall street's worries about the fiscal cliff negotiations. the dow added 15 points while the nasdaq gained 9 points. >>> hsbc is paying a record $1.9 billion to settle a federal and state money laundering probe. the british bank was under investigation for...
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bernanke of the federal reserve so not a good thing it's designed to stampede people here's the main idea you don't need to have genocidal austerity by cutting social security medicare medicaid unemployment benefits food stamps in particular there's one huge flow of wealth that has not ever been taxed in recent years it's called wall street if you look at the main zombie banks and wall street wells fargo bank of america citi bank goldman sachs they generally pay zero federal corporate income taxes that's one side they pay nothing over a period of ten years they might pay one and two percent at most but the other thing is the turnover in other words they're buying and selling their trading they're doing flash trading high frequency trading they're doing a million trades per second on one computer and they have many computers there's no sales tax on any of that the average person to buy a pair of shoes or some clothing or some electronics you're going to pay sales tax in america that range ranges between six percent and twelve percent it's just gone up again in california which is a re
bernanke of the federal reserve so not a good thing it's designed to stampede people here's the main idea you don't need to have genocidal austerity by cutting social security medicare medicaid unemployment benefits food stamps in particular there's one huge flow of wealth that has not ever been taxed in recent years it's called wall street if you look at the main zombie banks and wall street wells fargo bank of america citi bank goldman sachs they generally pay zero federal corporate income...
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ben bernanke's news conference starts at 12:15 p.m. eastern time. steve joins us in a few minutes with the preview from washington. >>> another story with big implications is michigan's decision to become a righ"right work" state. it would bar members from requiring to pay member dues. the governor signed the law. >> shouldn't unions be putting out the proposition workers want to join a union and shouldn't workers be able to make a choice their dollars are going to that union based on whether they're getting results that. 's what this is doing. that's why i view this as pro worker, not anti-union. >> it is viewed as a big blow to organized union that has seen membership decline across the country. dow opened higher by 56, nasdaq by 13 and s&p by a little more than 7, a gain half a percent across the board. in asia, higher across the board, not a lot. hang seng did well, higher by 181 points. europe still open at this hour, higher across the board. a gain for germany and quarter percent for the ftse, fairly flat where decide iing he will longer be a
ben bernanke's news conference starts at 12:15 p.m. eastern time. steve joins us in a few minutes with the preview from washington. >>> another story with big implications is michigan's decision to become a righ"right work" state. it would bar members from requiring to pay member dues. the governor signed the law. >> shouldn't unions be putting out the proposition workers want to join a union and shouldn't workers be able to make a choice their dollars are going to that...
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federal reserve chairman ben bernanke as he kicks off a two day fed meeting and also, watching to see if any more details coming at the meeting we started between the fox report and house speaker boehner and we'll learn if nell they'll tell us about the fiscal cliff. >> and christmas cards and decorating trees and all that, i'm still not happy. >> was is charlie brown depressed? may maybe-- greg gutfeld weighs on the double standard. and-- >> we're going to have to see the rates on the top 2% go up and we're not going to get a deal without it. >> virginia congressman on whether the president is willing to go over the fiscal cliff so he can blame the g.o.p. >> plus, olympic gold medal winning gabby douglas on the role of faith in her triumph. ladies and gentlemen, governor mike huckabee. [applaus [applause] >> thank you very much, great audience. welcome to huckabee from the fox news studios in new york city. [applause]. well for the past few weeks, i've traveled to about 48 city signing dear chandler, dear scarlet and i met several thousand who watched the show every week, it's.that a
federal reserve chairman ben bernanke as he kicks off a two day fed meeting and also, watching to see if any more details coming at the meeting we started between the fox report and house speaker boehner and we'll learn if nell they'll tell us about the fiscal cliff. >> and christmas cards and decorating trees and all that, i'm still not happy. >> was is charlie brown depressed? may maybe-- greg gutfeld weighs on the double standard. and-- >> we're going to have to see the...